Poor Altana.
The German drugs and chemicals group, is for the first time considering financial investors as potential buyers for its struggling pharmaceuticals division, after failing to find a strategic partner in the sector.
Insider has commented before on this. Altana, had earmarked two new treatments to offset the fall in sales of stomach ulcer treatment Protium (Protonix in the US), its sole blockbuster which goes off patent in 2009.
But development of its chronic obstructive pulmonary drug (COPD) Daxas has faltered after disappointing trial results, and resulted in Pfizer terminating plans for co-marketing of the drug.
Altana had poured millions into developing Daxas and its asthma drug Alvesco but a regulatory setback has denied the latter revenue from the all-important US market.
Sales of Alvesco are not expected to exceed E 10 million this year.
Along with Serono, it looks like lean times ahead for these two ugly sisters!
Source: FT
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